Digital transformation, or DX in short, is a technology-enabled revolution connecting people, devices and businesses that almost everyone is talking about nowadays.
IDC forecasts that the worldwide digital transformation spending on technologies and services will grow to US$3.4 trillion in 2026, at a five-year compound annual growth rate of 16.3%.
In reality, if one looks back, digital transformation is nothing new. We have been experiencing digital transformation ever since the invention of the first computer in the twentieth century. The digitization of information that commenced then has been changing the way we live, work and transact.
However, what is remarkable now is the pace at which digital transformation is permeating almost every sphere of life and business. As computing, communication and other technologies have evolved, resulting in high-performance computing, enhanced storage, amazing miniaturization, universal connectivity and convenient mobility, digital transformation has gained in scale and velocity.
There is not a single industry that has escaped the impact of digital transformation. Entire industries have emerged, disappeared or dramatically changed.
Take the music industry, for instance. Consumers need not purchase any music records, cassettes or CDs or dedicated music players; they just stream or download the songs they like from the Internet on their smartphones anywhere, anytime! Artistes no longer have to work with record labels; they can publish their own music directly on YouTube®. Old, established businesses that relied on physical production and distribution of music have almost disappeared. New entrants such as Apple® and Amazon® have taken advantage of digital transformation to enter and play a significant, disruptive role in the music industry.
One could go on and find similar examples in other industries. The bottom line is that digital transformation has disrupted the value chain in every industry.
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As a product or services business, whether you are a start-up, a small and medium business (SMB) or a large enterprise, you have probably come to realize the deep changes that are occurring in your industry as a result of digital transformation.
Some of you are probably well down the road to implementing a DX strategy for your products and services. For those that are yet to decide, your business stands to gain from the adoption of a DX strategy.
Digital transformation impacts Customer Experiences, Operational Processes & Business Models in your business.
Digital transformation can transform your customer experiences in huge, tangible ways, thereby increasing customer attraction, satisfaction and retention.
You can gain greater, quicker insights by:
You can deliver high-quality support by:
You can launch new offerings by:
You can target marketing efforts by:
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Digital transformation can enable simplification of your operations, saving costs and focusing on innovation rather than repetition.
You can streamline your processes by:
You can enable your workers by:
You can manage your performance by:
You can increase your compliance by:
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Digital transformation ultimate force multiplier is in its potential to transform your business models to achieve higher revenues and ROI.
You can globalize your operations by:
You can collaborate in your ecosystem by:
You can create new businesses by:
You can offer new business models by:
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Staying competitive in your markets has always required your business to have predictable release cycles, faster time-to-market, superior quality, lower cost and ultimately higher ROI on your product engineering effort.
With DX, new dimensions have been added to product engineering.
Engineering products and services to leverage digital transformation technologies is not a trivial task. Not only do you need to have your DX strategy in place, you also need to possess the DX technology expertise and skilled resources to execute your product and services roadmap in accordance with your DX strategy. All this while continuing to support your existing products and services.
Digital transformation is impacting technologies in the front-end of your business. Mobile engagement, Web experience, embedded systems, connectivity, device interfaces, virtual/augmented reality, social media integration, digital payments are all changing the way your customers experience your products or services and interact with your business.
At the back-end of your business, digital transformation is impacting various technologies that run your business. Cloudification, saasification, Web applications, embedded systems, connectivity, enterprise integration, digital asset management, information management, big data analytics, machine learning, artificial intelligence, security, 3D printing, blockchain, robotic process automation are all changing the way your business operates, innovates and interacts with your customers.
Additionally, given the economic uncertainty, continued globalization of business, intense competitive pressures, tighter budgets and cost reduction pressures, several businesses are leveraging third-party product engineering services suppliers with expertise in DX technologies, to implement their DX product development initiatives.
Are you facing challenges in implementing your DX strategy?
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Celstream is your ideal DX partner. We are an established offshore product engineering services company, having a rich heritage in developing products for global technology companies across diverse industries and domains. With our advanced expertise in DX technologies, we are a sure, safe choice to accelerate your DX strategy and go-to-market for your products and services in a cost-effective manner.
With two decades of experience in successfully operating product development partnerships, Celstream project managers understand the intricacies of modern product development, from cradle to grave. They know what it takes to implement usability, adaptability, modularity, scalability, maintainability and internationalization/localization for your products. As a values-drive organization, we strongly respect and protect your Intellectual Property Rights (IPRs).
Celstream’s product engineering teams don’t just execute projects, they create innovative products. Our core competency spans the entire product development lifecycle ranging from ideation through sustenance to end-of-life. We have interacted with end-users and designed complete products starting with one-line requirements and unstructured specifications. We have recommended product roadmaps and evolved the entire product development program, in coordination with our customers. Our deliverables have generated patents for our customers.
Our extensive product development experiences are distilled into proven processes, practices and methodologies. They provide the strong foundation for quality offshore execution from our modern, India R&D facility, with significant cost savings for your business.
Celstream product engineering services enables your business in mitigating risks, improving quality, and achieving the desired cost benefit and product roadmap goals. Leveraging our vast product engineering experience and DX expertise, we give you the desired focus, discipline and commitment to implement your DX strategy for your products and services with high-quality, on-time, within budget deliverables.
Explore our DX capabilities and contact us to understand how we can implement your DX strategy for your Products & Services!
Are you seeking a competent partner to enable your DX strategy?
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